- What do you do when the freeholder does not respond?
- What are the disadvantages of buying a leasehold property?
- What exactly is a maisonette?
- Is a 999 year lease as good as freehold?
- Can a maisonette be freehold?
- Who owns the roof space in a block of flats?
- How do I change my leasehold to freehold?
- Should I buy a flat with a 99 year lease?
- What are my responsibilities as a freeholder?
- What happens if Freeholder sells?
- Can you knock down walls in a leasehold flat?
- Are leasehold houses harder to sell?
- What is the leaseholder responsible for?
- Who is responsible for roof repairs in a flat Scotland?
- Who is responsible for the roof in a maisonette?
- Who owns the roof space in a block of flats Scotland?
- What is building repair and maintenance?
- Does a leaseholder own the property?
- Can a landlord refuse to sell the freehold?
- Is leasehold property a good investment?
What do you do when the freeholder does not respond?
If a freeholder (or landlord) fails to respond to the notice by the deadline given in it, you can apply to a court for a “vesting order” that gives the court the right to sell the freehold on the freeholder’s behalf..
What are the disadvantages of buying a leasehold property?
Five reasons you should never buy leaseholdInflated service charges. Service charges are levied by the freeholder for the upkeep of the communal parts of the building such as the garden, staircase, roof and lift. … Leasehold valuation tribunals. … Poor service. … Breach of lease. … Sale fees.
What exactly is a maisonette?
A maisonette is a two-storey flat, where your front door is your own. This means that you can exit your home directly to the outside, as opposed to a regular flat where you have a shared corridor.
Is a 999 year lease as good as freehold?
Newly-created leases can be anything from 99 or 125 years to 999 years. A 999 year lease is effectively as good as freehold, and there can even be some advantages to owning some properties this way, rather than under freehold (see below). However, shorter leases become problematic sooner than you may think.
Can a maisonette be freehold?
Freehold maisonette mortgages If you are buying the freehold of a maisonette, you own the property outright, including the land it’s built on. … However, it means that you don’t have to worry about paying ground rent, service charges or any other charges imposed by a freeholder.
Who owns the roof space in a block of flats?
The basic rule is that ownership of the roof, it’s space and the air space above should be expressly granted, as otherwise it remains with the Freehold. That said, if silent, it is also a question of fact as to what the common intention was between the original grantor and grantee.
How do I change my leasehold to freehold?
Leaseholders who own a house can buy the freehold of their house either under the law if they meet certain criteria (formal route), or by asking the freeholder to see whether they are willing to sell the freehold informally (informal route).
Should I buy a flat with a 99 year lease?
The majority of residential leases used to be for a term of 99 years, but more recently leases on modern purpose-built flats have been for 125 years or longer. … The simple answer then is yes, there is no problem in principle in buying a flat with a short lease provided that its price reflects this fact.
What are my responsibilities as a freeholder?
Typical Freeholder Responsibilities Repairs and maintenance to the structure of the building (including the roof and guttering) and any communal areas. Arranging internal and external cleaning, painting and decorating. Managing utility supplies, plumbing, heating for communal areas.
What happens if Freeholder sells?
If the freeholder is happy to sell, the leaseholders can buy the freehold from them. If the freeholder doesn’t want to sell, collective enfranchisement gives leaseholders the power to buy it at a fair price anyway. … For example, when you buy the freehold, you still have to extend your lease, but it should be free!
Can you knock down walls in a leasehold flat?
Knocking down walls Some leases do allow internal walls to be removed without consent, so check your terms carefully before doing anything. If you’re unsure, ask the freeholder – it’s usually a safe option.
Are leasehold houses harder to sell?
Leasehold properties typically take longer to complete than freeholds and are at greater risk of falling through. … It isn’t harder to buy or sell a leasehold property, but it can take longer for a sale to complete because there is more legal work for your conveyancer to do.
What is the leaseholder responsible for?
Leaseholder responsibilities Most leases say that you as the leaseholder are responsible for maintaining and repairing the inside of your home. This usually includes repairs to: all internal decoration, including carpets and paintwork. furniture and appliances.
Who is responsible for roof repairs in a flat Scotland?
These include: the roof, the foundations, external walls and any other part of the property which the Title Deeds set out as being the property of two or more owners. It is important to note that paying for roof repairs now becomes the responsibility of every owner in the building – unless your Deeds say otherwise.
Who is responsible for the roof in a maisonette?
Usually the landlord or managing company is responsible for the roof but there may be occasions, e.g. a small maisonette, where the owner of the top floor is responsible for the roof and the owner of the ground floor is responsible for the foundations.
Who owns the roof space in a block of flats Scotland?
The TMS apportions maintenance of the roof between all proprietors, even if it is solely owned by the top floor owner, but the attic space will be maintained by the proprietor (or proprietors) who has ownership of that part of the tenement.
What is building repair and maintenance?
Building repairs and maintenance services mainly includes works undertaken for maintaining proper condition of buildings, its services and works in ordinary use. The use for which buildings are designed is the main factor in determining the required standard of maintenance.
Does a leaseholder own the property?
What is a leasehold? With a leasehold, you own the property (subject to the terms of the leasehold) for the length of your lease agreement with the freeholder. When the lease ends, ownership returns to the freeholder, unless you can extend the lease.
Can a landlord refuse to sell the freehold?
If your group can meet certain criteria, you can demand the freehold and the current freeholder cannot refuse to sell. … It is possible to acquire one building separately, which in effect “severs” the freehold.
Is leasehold property a good investment?
If there is great value in a property and you’re able to rent it out over a period of time, with the option to sell it on afterwards without it depreciating substantially in value, then really there’s nothing wrong investing in a leasehold property. There are also a number of perks that come with leaseholds.